I just took a look at the contract panel, and the data for $SKL is pretty interesting.
Funding rate: -0.677%/8h—that means shorts are paying, and they pay every 8 hours. OI change over 1h: +38.3%, meaning leveraged positions surged within an hour.
Taken together, these two signals usually suggest concentrated short positions, forced short liquidations, or someone deliberately trying to squeeze the shorts.
Whether it can squeeze higher is anyone’s guess, but shorts are currently paying an annualized cost of roughly 2% per day (funding rate × 3 settlements per day × 365). If $SKL keeps moving sideways, shorts will slowly bleed; if it suddenly surges on heavy volume, the cascade could happen faster.
This is not investment advice. Whether this data is worth paying attention to is for you to decide.
Funding rate: -0.677%/8h—that means shorts are paying, and they pay every 8 hours. OI change over 1h: +38.3%, meaning leveraged positions surged within an hour.
Taken together, these two signals usually suggest concentrated short positions, forced short liquidations, or someone deliberately trying to squeeze the shorts.
Whether it can squeeze higher is anyone’s guess, but shorts are currently paying an annualized cost of roughly 2% per day (funding rate × 3 settlements per day × 365). If $SKL keeps moving sideways, shorts will slowly bleed; if it suddenly surges on heavy volume, the cascade could happen faster.
This is not investment advice. Whether this data is worth paying attention to is for you to decide.